Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to investigations and government operations |
Feb 13, 2015 |
referred to investigations and government operations |
Senate Bill S3599
2015-2016 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2015-S3599 (ACTIVE) - Details
- Current Committee:
- Senate Investigations And Government Operations
- Law Section:
- Taxation
- Laws Affected:
- Amd Part H §31, Chap 1 of 2003
2015-S3599 (ACTIVE) - Sponsor Memo
BILL NUMBER:S3599 TITLE OF BILL: An act to amend part H of chapter 1 of the laws of 2003, amending the tax law relating to brownfield redevelopment tax credits, remediated brownfield credit for real property taxes for qualified sites and environmental remediation insurance credits, in relation to extending certain provisions thereof PURPOSE: To extend certain tax credits for brownfield redevelopment. SUMMARY OF SPECIFIC PROVISIONS: This bill would extend, until March 31, 2018, the eligibility time-frame for brownfield tax credits. JUSTIFICATION: In 2003, the Legislature authorized tax credits as part of the Brownfield Cleanup Program. The authority for those credits is set to expire on December 31, 2015. This legislation will delay the sunset of those tax credits until March 31, 2018. PRIOR LEGISLATIVE HISTORY:
2015-S3599 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3599 2015-2016 Regular Sessions I N S E N A T E February 13, 2015 ___________ Introduced by Sen. RANZENHOFER -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Government Operations AN ACT to amend part H of chapter 1 of the laws of 2003, amending the tax law relating to brownfield redevelopment tax credits, remediated brownfield credit for real property taxes for qualified sites and environmental remediation insurance credits, in relation to extending certain provisions thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 31 of part H of chapter 1 of the laws of 2003, amending the tax law relating to brownfield redevelopment tax credits, remediated brownfield credit for real property taxes for qualified sites and environmental remediation insurance credits, as amended by chapter 474 of the laws of 2012, is amended to read as follows: S 31. The tax credits allowed under section 21, 22 or 23 of the tax law and the corresponding provisions in articles 9, 9-A, 22, 32 and 33 of the tax law, as added by the provisions of sections one through twen- ty-nine of this act, shall not be applicable if the remediation certif- icate required to qualify for any of such credits is issued after [December 31, 2015] MARCH 31, 2018. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07434-01-5
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